Grouped Into 67 Collections of Similar Clauses From Business Contracts
This page contains Base Salary clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Base Salary. The Company shall pay Employee a base salary of $400,000 per year, or such higher amount as the Board may determine from time to time, less applicable federal and state withholding taxes, in accordance with the Company's regular payroll practices (the "Base Salary"). Annual Bonus Compensation. In addition to the Base Salary, Employee may be awarded a discretionary bonus by the Board in connection with his employment as Chairman of the Board and Chief Executive Officer. Employee will be eligible ...to receive an incentive bonus (the "Bonus") with his target incentive equal to ninety percent (90%) of the target incentive of the CEO from time to time (the "Target Bonus"), or such higher amount as the Board may determine from time to time. Employee's Bonus will be prorated to the extent he is not serving as Chief Executive Officer for a full calendar year. Director Compensation. Employee acknowledges and agrees that during the term of this Agreement, he will not be entitled to any additional fees or other compensation for serving as a member of the Board, including any fees or equity grants in accordance with the Company's policy for non-employee members of the Board, provided, that the Equity Awards (as defined below) previously granted to Employee in connection with his service as a member of the Board will continue to vest based on his employment hereunder. Following the cessation of Employee's employment under this Agreement, subject to his remaining as a member of the Board thereafter, Employee will again be eligible to receive fees and equity grants in accordance with the Company's policy for non-employee members of the Board. Employee and the Company acknowledge and agree that the compensation payable to Employee under this Agreement is solely for Employee's services as an employee and not for his service as a non-employee member of the Board. Equity Awards. Employee shall be entitled to participate in any equity or other employee benefit plan that is generally available to senior executive officers, as distinguished from general management, of the Company. Except as otherwise provided in this Agreement, Employee's participation in and benefits under any such plan shall be on the terms and subject to the conditions specified in the governing document of the particular plan. All of Employee's Equity Awards shall vest in full upon the occurrence of a Change in Control (as 2 US-DOCS\106321677.1 defined in the Company's 2016 Incentive Award Plan). For purposes of this Agreement, "Equity Awards" means all stock options, restricted stock and such other awards granted pursuant to the Company's stock option and equity incentive award plans or agreements and any shares of stock issued upon exercise thereof. Employee Benefits. Employee shall be entitled to participate in all employee benefit plans, programs and arrangements maintained by the Company and made available to employees generally, including, without limitation, bonus, retirement, profit sharing and savings plans and medical, disability, dental, life and accidental death and dismemberment insurance plans. Reimbursement of Expenses. During his Employment with the Company, Employee shall be entitled to reimbursement for all reasonable and necessary business expenses incurred on behalf of the Company, including without limitation, travel and entertainment expenses, business supplies and communication expenses, in accordance with the Company's policies and procedures.View More
Base Salary. The In the event the Effective Date occurs prior to the CEO Appointment Date, then through the CEO Appointment Date, the Company shall pay Employee a base salary of $400,000 per year, or such higher amount as the Board may determine from time to time, less applicable federal and state withholding taxes, in accordance with the Company's regular payroll practices (the "Base Salary"). From and after the CEO Appointment Date, Employee's Base Salary shall be equal to sixty percent (60%) of the base s...alary of the CEO from time to time, or such higher amount as the Board may determine from time to time, less applicable federal and state withholding taxes, in accordance with the Company's regular payroll practices. Annual Bonus Compensation. In addition to the Base Salary, in the event the Effective Date occurs prior to the CEO Appointment Date, then through the CEO Appointment Date, Employee may be awarded a discretionary bonus by the Board in connection with his employment as Executive Chairman of the Board and interim Chief Executive Officer. From and after the CEO Appointment Date, Employee will be eligible to receive an incentive bonus (the "Bonus") with his target incentive equal to ninety sixty percent (90%) (60%) of the target incentive of the CEO from time to time (the "Target Bonus"), or such higher amount as the Board may determine from time to time. Employee's Bonus will be prorated to the extent he is not serving as Chief Executive Officer for a full calendar year. Director Compensation. Employee acknowledges and agrees that during the term of this Agreement, he will not be entitled to any additional fees or other compensation for serving as a member of the Board, including any fees or equity grants in accordance with the Company's policy for non-employee members of the Board, provided, that the Equity Awards (as defined below) previously granted to Employee in connection with his service as a 2 US-DOCS\103715512.4 member of the Board will continue to vest based on his employment hereunder. Following the cessation of Employee's employment under this Agreement, subject to his remaining as a member of the Board thereafter, Employee will again be eligible to receive fees and equity grants in accordance with the Company's policy for non-employee members of the Board. Employee and the Company acknowledge and agree that the compensation payable to Employee under this Agreement is solely for Employee's services as an employee and not for his service as a non-employee member of the Board. Equity Awards. Employee shall be entitled to participate in any equity or other employee benefit plan that is generally available to senior executive officers, as distinguished from general management, of the Company. Except as otherwise provided in this Agreement, Employee's participation in and benefits under any such plan shall be on the terms and subject to the conditions specified in the governing document of the particular plan. All of Employee's Equity Awards shall vest in full upon the occurrence of a Change in Control (as 2 US-DOCS\106321677.1 defined in the Company's 2016 Incentive Award Plan). For purposes of this Agreement, "Equity Awards" means all stock options, restricted stock and such other awards granted pursuant to the Company's stock option and equity incentive award plans or agreements and any shares of stock issued upon exercise thereof. Employee Benefits. Employee shall be entitled to participate in all employee benefit plans, programs and arrangements maintained by the Company and made available to employees generally, including, without limitation, bonus, retirement, profit sharing and savings plans and medical, disability, dental, life and accidental death and dismemberment insurance plans. Reimbursement of Expenses. During his Employment with the Company, Employee shall be entitled to reimbursement for all reasonable and necessary business expenses incurred on behalf of the Company, including without limitation, travel and entertainment expenses, business supplies and communication expenses, in accordance with the Company's policies and procedures. View More
Base Salary. Your semi-monthly salary will be $17,708.34 ($425,000 annualized). As an employee of ACADIA, you will be expected to abide by the Company's rules and regulations and to devote all of your business time, skill, attention and best efforts to ACADIA business to fulfill the responsibilities assigned to you. Your position is full time and is exempt under the Fair Labor Standards Act ("FLSA") provision for overtime.
Base Salary. Your semi-monthly salary will be $17,708.34 ($425,000 $17,916.67 ($430,000.00 annualized). As an employee of ACADIA, you will be expected to abide by the Company's rules and regulations and to devote all of your business time, skill, attention and best efforts to ACADIA business to fulfill the responsibilities assigned to you. Your position is full time and is exempt under the Fair Labor Standards Act ("FLSA") provision for overtime.
Base Salary. As full and complete consideration for the Services provided herein by you, and on the condition that you fully and faithfully perform the Services, duties and obligations required to be performed hereunder, and that you are not in breach of this Agreement or NDA, the Company shall pay you a base salary of Two Hundred Fifty Thousand and 00/100 Dollars ($250,000) gross per annum (prorated for partial years) in accordance with the Company's payroll practices and subject to customary tax withholdin...gs and deductions (the "Base Salary"). The Company may, in its sole discretion, adjust Base Salary during the Term, and as so adjusted shall constitute "Base Salary" thereafter.View More
Base Salary. As full and complete consideration for the Services provided herein by you, and on the condition that you fully and faithfully perform the Services, duties and obligations required to be performed hereunder, and that you are not in breach of this Agreement or NDA, the Company shall pay you a base salary of Two Hundred Fifty Sixty-Five Thousand and 00/100 Dollars ($250,000) ($265,000) gross per annum (prorated for partial years) in accordance with the Company's payroll practices and subject to cu...stomary tax withholdings and deductions (the "Base Salary"). The Company may, in its sole discretion, adjust increase, but not decrease Base Salary during the Term, and as so adjusted increased shall constitute "Base Salary" thereafter. View More
Base Salary. During the CEO Period, the Company shall continue to pay Executive an annual base salary of $1,075,000, which annual base salary shall be reduced to $700,000 during the Executive Chair Period, in all cases payable in regular installments in accordance with the Company's usual payment practices (but in all events no less frequently than semi-monthly). Executive shall be entitled to such increases, if any, in base salary as may be determined from time to time in the sole discretion of the Board. E...xcept as set forth in this Section 3, Executive's annual base salary may not be decreased during the Employment Term (including for purposes of determining severance amounts under Section 7 hereof) without Executive's prior consent (other than a general reduction in annual base salary that affects all members of senior management proportionately; provided, however, that any such reduction shall not be taken into account for purposes of determining severance amounts hereunder and any severance provided hereunder following such reduction shall be calculated based on Executive's annual base salary being no less than the applicable amount set forth in the first sentence of this Section 3). Executive's annual base salary, as in effect from time to time, consistent with this Section 3, is hereinafter referred to as the "Base Salary".View More
Base Salary. During Section 3 of the CEO Period, Agreement is hereby deleted and replaced in its entirety with the following: "During the Employment Term as of the Amendment Approval Date, the Company shall continue to pay Executive an annual base salary at the annual rate of $1,075,000, which annual base salary shall be reduced to $700,000 during the Executive Chair Period, in all cases payable in regular installments in accordance with the Company's usual payment practices (but in all events no less freque...ntly than semi-monthly). Executive shall be entitled to such increases, if any, in his base salary as may be determined from time to time in the sole discretion of the Board. Except as set forth in this Section 3, Executive's annual base salary may not be decreased during the Employment Term (including for purposes of determining severance amounts under Section 7 hereof) without Executive's his prior consent (other than a general reduction in annual base salary that affects all members of senior management proportionately; provided, however, that any such reduction shall not be taken into account for purposes of determining severance amounts hereunder and any severance provided hereunder following such reduction shall be calculated based on Executive's annual base salary being no less than the applicable amount set forth in the first sentence of this Section 3). $1,075,000). Executive's annual base salary, as in effect from time to time, consistent with this Section 3, is hereinafter referred to as the "Base Salary". ‘Base Salary'." View More
Base Salary. The base salary will be $275,000 on a full-time annualized basis. Performance and salary reviews are at the discretion of the President/CEO and/or Board of Directors.
Base Salary. The base salary will be $275,000 $240,000 on a full-time annualized basis. Performance and salary reviews are at the discretion of the President/CEO and/or Board of Directors.
Base Salary. As of the Effective Date, the Corporation agrees to pay Employee an annualized base salary of $180,000 (the "Base Salary") for full-time employment, less all legally required and authorized deductions and withholdings, which Base Salary will be earned by Employee on a pro rata basis as Employee performs services and which shall be paid according to the Corporation's normal payroll practices. Employee shall be eligible for a merit-based increase of the Base Salary payable under this Section 4.1 o...n or about July 1, 2022 and on or about July 1 of each year during the Term thereafter, with any adjustment to Employee's Base Salary subject to approval by the Corporation's Chief Financial Officer. 4.2 Annual Incentive Compensation. For each of the Corporation's fiscal years during the Term starting with the Corporation's 2022 fiscal year, Employee will be eligible to earn an annualized cash bonus as determined by the Corporation's President and Chief Executive Officer in his or her discretion and subject to the terms of any written document addressing such annual cash bonus as the Corporation's President and Chief Executive Officer may adopt in Employee's sole discretion. For the Corporation's 2022 fiscal year, Employee's target annualized cash bonus under this Section 4.2 will be twenty percent (20%) of Employee's annualized Base Salary for the Corporation's 2022 fiscal year, subject to the terms and conditions identified in the Corporation's Fiscal Year 2022 Management Bonus Plan. Future annual cash bonus opportunities will be determined by Corporation's Chief Financial Officer in his or her discretion. Unless specified otherwise a written annual cash bonus document applicable to Employee, Employee must be employed on the date any annual cash bonus is paid in order to each such bonus. 2 4.3 Employee Benefits. While Employee is employed by the Corporation during the Term, Employee shall be entitled to participate in the retirement plans, health plans, and all other employee benefits made available by the Corporation, and as they may be changed from time to time. Employee acknowledges and agrees that Employee will be subject to all eligibility requirements and all other provisions of these benefits plans, and that the Corporation is under no obligation to Employee to establish and maintain any employee benefit plan in which Employee may participate. The terms and provisions of any employee benefit plan of the Corporation are matters within the exclusive province of the Board, subject to applicable law. 4.4 Vacation and Sick Leave. While Employee is employed by the Corporation during the Term, Employee shall be entitled to the Electromed's standard Discretionary Time Off policy. 4.5 Business Expenses. While Employee is employed by the Corporation during the Term, the Corporation shall reimburse Employee for all reasonable and necessary out-of-pocket business, travel and entertainment expenses incurred by Employee in the performance of Employee's duties and responsibilities hereunder, subject to the Corporation's normal policies and procedures for expense verification and documentation. 4.6 Other Benefits: The Corporation shall provide a corporate credit card for approved business expenses and shall otherwise reimburse the Employee for, or pay directly, all reasonable business expenses incurred by the Employee in the performance of Employee's duties under this Agreement, provided that the Employee incurs and accounts for such expenses in accordance with all Corporation policies and directives in effect from time to time.View More
Base Salary. As of the Effective Date, the Corporation agrees to pay Employee an annualized base salary of $180,000 $290,000.00 (the "Base Salary") for full-time employment, less all legally required and authorized deductions and withholdings, Salary"), which Base Salary will be earned by Employee on a pro rata basis as Employee performs services and which shall be paid according to the Corporation's normal payroll practices. Employee shall be eligible for a merit-based increase of the Base Salary payable un...der this Section 4.1 on or about July 1, 2022 six months after the Effective Date, and on or about July 1 of each year during the Term thereafter, with any adjustment to Employee's Base Salary subject to approval by the Corporation's Chief Financial Officer. Board. 4.2 Annual Incentive Compensation. For each of the Corporation's fiscal years during the Term starting with the Corporation's 2022 fiscal year, Term, Employee will be eligible to earn an annualized cash bonus as determined by the Corporation's President and Chief Executive Officer Board in his or her its discretion and subject to the terms of any written document addressing such annual cash bonus as the Board may adopt in its sole discretion, in each case after consultation with the Corporation's President and Chief Executive Officer may adopt in Employee's sole discretion. Officer. For the Corporation's 2022 fiscal year, year ending June 30, 2022, Employee's target annualized cash bonus under this Section 4.2 will be twenty thirty percent (20%) (30%) of Employee's annualized Base Salary for the Corporation's 2022 fiscal year, Salary, subject to the terms and conditions identified in the Corporation's Fiscal Year 2022 Management Officer Bonus Plan. Future annual cash bonus opportunities will be determined by Corporation's Chief Financial Officer the Board in his or her its discretion. Unless specified otherwise in a written annual cash bonus document applicable to Employee, if a bonus is earned in accordance with this Section 4.2, it will be paid to Employee must be by the Corporation regardless of whether Employee is employed by the Corporation on the payment date, with such payment date any annual cash being no later than March 15 of the calendar year immediately following the calendar year in which Employee earns a bonus is paid in order to each such bonus. 2 accordance with this Section 4.2. 4.3 Employee Benefits. While Employee is employed by the Corporation during the Term, Employee shall be entitled to participate in the retirement plans, equity compensation plans, 2 health plans, and all other employee benefits made available by the Corporation, and as they may be changed from time to time. Employee acknowledges and agrees that Employee will be subject to all eligibility requirements and all other provisions of these benefits plans, and that the Corporation is under no obligation to Employee to establish and maintain any employee benefit plan in which Employee may participate. The terms and provisions of any employee benefit plan of the Corporation are matters within the exclusive province of the Board, subject to applicable law. 4.4 Vacation and Sick Leave. While Discretionary Time Off. Employee is employed subject to Electromed's Discretionary Time Off ("DTO") practice, pursuant to which Employee may request time off for vacation, sick, or any other valid reason Employee needs, providing more flexibility of employee well-being, subject to Employee continuing to be able to satisfy Employee's duties and responsibilities hereunder. DTO is not accrued, is not carried over year to year, and is not paid out upon termination of employment by the Corporation during the Term, or Employee shall be entitled to the Electromed's standard Discretionary Time Off policy. for any reason. 4.5 Business Expenses. While Employee is employed by the Corporation during the Term, the Corporation shall reimburse Employee for all reasonable and necessary out-of-pocket business, travel and entertainment expenses incurred by Employee in the performance of Employee's duties and responsibilities hereunder, subject to the Corporation's normal policies and procedures for expense verification and documentation. 4.6 Other Benefits: During the Term, the Corporation shall directly pay the cost of a cell phone or wireless handheld device for the Employee's use. Additionally, during the Term, the Corporation shall provide Employee an automobile allowance of up to $600.00 per month. The Corporation shall also provide a corporate credit card for approved business expenses and shall otherwise reimburse the Employee for, or pay directly, all reasonable business expenses incurred by the Employee in the performance of Employee's duties under this Agreement, provided that the Employee incurs and accounts for such expenses in accordance with all Corporation policies and directives in effect from time to time. View More
Base Salary. For all services to be rendered by the Executive pursuant to this Agreement, the Companies agree to pay the Executive during the term of this agreement a base salary (the "Base Salary") for each calendar year at an annual rate which is not less than the annual rate of the Executive's Base Salary in effect on December 31 of the immediately preceding calendar year. Executive's Base Salary shall be $370,000 commencing March 1, 2016. The Executive's annual incentive bonus provided for in Paragraph 5... and all other compensation and benefits to which the Executive is or may become entitled pursuant to this agreement or under any plans or programs of the Companies shall be in addition to the Base Salary.View More
Base Salary. For all services to be rendered by the Executive pursuant to this Agreement, the Companies agree to pay the Executive during the term of this agreement a base salary (the "Base Salary") for each calendar year at an annual rate which is not less than the annual rate of the Executive's Base Salary in effect on December 31 of the immediately preceding calendar year. Executive's initial Base Salary shall Salary, retroactive to January 1, 2021, will be $370,000 commencing March 1, 2016. $372,000. The... Executive's annual incentive bonus provided for in Paragraph 5 and all other compensation and benefits to which the Executive is or may become entitled pursuant to this agreement or under any plans or programs of the Companies shall be in addition to the Base Salary. View More
Base Salary. The Corporation shall pay you a base salary at the rate of USD $450,000 per year (the "Base Salary"), payable semi-monthly and subject to applicable withholdings. As a managerial employee of the Corporation, you are not entitled to overtime pay, and your compensation noted above represents your pay for all hours worked for the Corporation.
Base Salary. The Corporation shall pay you a base salary at the rate of USD $450,000 $ 425,000 per year (the "Base Salary"), payable semi-monthly and semi-monthly, subject to applicable withholdings. As a managerial employee of the Corporation, you are not entitled to overtime pay, pay and your compensation noted above represents your pay for all hours worked for the Corporation.
Base Salary. Your annualized gross salary will be $170,000 ($7,083.33 $110,000 ($4,583.33 bi-monthly gross). We are paid on the 15th and last day of the month.
